What is correlation analysis?


0

Correlation analysis deals with the association between two or more variables. If two or more quantities vary in sympathy so that movements in one tend to be accompanied by corresponding movements in the other then they are said to be correlated.

Thus correlation is a statistical device which helps us in analyzing the co variation of two or more variables. The problems of analyzing the relation between different series should be broken into three steps;

  1. Determining whether a relation exists and if it does measuring it.
  2. Testing whether it is significant.
  3. Establishing the cause and effect relation.

Like it? Share with your friends!

0
BMS Team

We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]

53 Comments

Facebook comments:

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format